Child benefit whos affected

[manxman2]

Then the weak currency is bad if you import more than you sell abroad, how do countries audit other countries before buying bonds {extending credit}.

Edited October 6, 2010 by manxman2

[Mungler]

It's complicated, but they would probably spend the first 2 minutes of whatever complicated search procedure they follow looking here: http://www.standardandpoors.com/home/en/us

[Nial]

As for child benefit - they won't get round to slashing it in the terms they have laid out. They are about to **** the middle class and that's not a vote winner; especially so when there are rather more obvious "low hanging fruit" on the tree that needs pruning and is called the welfare state.

 

 

Mung,

 

Child benefit is part of the welfare state.

 

 

 

Nial

[Mungler]

Yes, I am aware of that.

 

There are more obvious things to slash in the welfare state that won't affect Tory and Lib Dem voters

Edited October 6, 2010 by Mungler

[manxman2]

It's complicated, but they would probably spend the first 2 minutes of whatever complicated search procedure they follow looking here: http://www.standardandpoors.com/home/en/us

 

was kinda looking for a working mans explanation, you know one without acronyms.

[Mungler]

was kinda looking for a working mans explanation, you know one without acronyms.

 

Well, that website has lots of "about" information - it's jammed packed with video, audio and words.

 

Try this:

 

http://www2.standardandpoors.com/aboutcreditratings/

[manxman2]

I wasnt grumbling mungler, ta for links.

[Mungler]

Basically they and other ratings agencies weigh up whether a Country can actually cash the cheques it writes.

 

There's an on going hoo ha that if GB loses it's tripple A status (i.e. "good for it" status) then the cost of the Country's credit goes up and it gets much much worse for us very quickly.

Edited October 6, 2010 by Mungler

[guest1957]

Countries that borrow money and never miss a repayment pay very low interest rates of their debt. Countries that default pay much higher interest. If the UK is downgraded, the rate paid will increase significantly and we will be paying substantially more than £120m a day on debt repayments and people will have much bigger things to worry about than loss of child benefit. It would start to become a question of which public services go all together...

[guest1957]

THANKS QUEST.

 

What would happen if the bank of england just created the money for the government to pay off interest on its debt mountain, does it just weaken the pound against other currencies, aswell as cause inflation..

 

The rug would be pulled from under the country quicker than you could say monitise. Arguably the quantitative easing programme of the last couple fo years was close to that, albeit on a relatively insignificant scale compared to how other countries have done it before. In theory, the value of the pound would fall by the same % as the increase in the size of the nominal monetary base resulting from the 'easing'. In reality a number of other factors 'artificially' benefitted the $ and Euro in the FX markets.

[ANDYD]

If you can't afford kids dont have them

[Lampwick]

If you can't afford kids dont have them

IMO you can never afford kids, women or enough beer to compensate for them!

[berettaman]

:look:

[sneakysniper]

George Osbourne has never claimed it because he doesn't need the money, thought that was interesting.

 

The reason that the new policy is not 100% equal to all is because to do so would mean a large percentage of the saved money would be spend in administrating the system.

 

Dan

 

 

True. It would be a nightmare to administer in the same way that tax credits currently are. The higher rate taxpayer choice is far easier but still not perfect.

 

As for the victor meldrews amongst us, i still say if you save the money in a bank account etc then you don't need it, truly need it that is. For those of you slagging the NHS, well i'm glad you are lucky enough to be able to afford private healthcare.

 

Regarding the deficit and all the cuts, what everyone needs to realise is that if ALL the tax that should be collected actually was, then there wouldn't be any deficit or cuts to complain about.